A bit of a sell off is a natural reaction: "sell the news". New phones exceeded my expectations: didn't expect 64-bit or a co-processor. I also didn't expect 5C to be that cool. Great news imo! Now we'll just have to wait for the cash to come in in Dec'13 quarter. Then stock will behave. Plus there will be new hardware coming out way before that. Notice the "most forward looking phone" -- that means companion hardware (iWatch) and POS payment agreements, imo.
I forgot to mention the software they now include for free. That is a great value. And price-wise instead of discounting iPhone 5, they replaced it with something that is cheaper to manufacture. Great move -- preserving margins! I am sure Dec'13 quarter is going to be great. Profit is the only thing that can prove skeptics wrong and it looks like profit is going to be much greater than expected.